System service payroll advance is a way that employees can get money transferred into their accounts via direct deposit (or check) in advance from their employer directly or through a third party.
This alternative to payday loans can be a helpful option for covering unexpected expenses or last-minute bills. But should you use it?
Most likely an employee would use it if they are scrambling to pay last minute expenses.
When I was working as a Controller of a country club, I had to give payroll advances to a few employees from time to time. It's different than a payday loan because it was tied to our company's payroll system and is written off on the next payday.
They aren't really a huge risk because all parties know the next paycheck is coming which will cover the system payroll advance. In this article, we'll go through the benefits of a payroll advance system in place for both the employer and employee — and what your options are if your company doesn't offer one.
System Service Payroll Advance Offered By Employers
Many employers now offer payroll advances to their employees according to Wall Street Journal, “A growing number of companies are helping workers gain access to payroll advances and loans, reflecting concern over the impact money problems are having on productivity levels and worker retention.”
My previous company offered it because it provided valuable support to our employees. Everyone faces emergencies, and this option is far better than a payday loan, benefiting both employees and the company.
It results in happy employees and a company that doesn’t lose any money.
Taking a Payroll Advance as an Employee
As an employee, there will be times when you need money urgently. Whether it’s a burst water pipe or a leaking roof that needs immediate repair, your options can be limited if your bank account is low.
You might consider a credit card advance or a personal loan, but most online lenders take a few days and involve lengthy applications.
If your company doesn’t offer a payroll advance system, ZippyLoan could be a helpful option for getting money as soon as tomorrow.
What If Your Company Doesn't Offer a Payroll Advance?
If you actually need money now, then you can opt for a personal loan. When you need money in a hurry ZippyLoan is where to go. You apply for a loan through the ZippyLoan site, if approved they send your loan application to one of many loan providers.
You review the loan details and e-sign if you like what you see. No risk in checking what offers you'll get. You can borrow between $100 and $15,000 as soon as tomorrow. Loans service for up to 60 months.
ZippyLoan connects borrowers to lenders through their network of lenders. They'll find you the lowest interest rate and is one of the best no credit check loans. You can visit ZippyLoan here.
- Borrow between $100 and $15,000 as soon as tomorrow
- No credit check
- Good option if you have bad credit
Can You Use Payroll Advance Apps?
If your employer doesn’t offer a payroll advance, don’t worry—payroll advance apps can fill the gap. These free apps, available on the App Store and Google Play Store, make it easy to access your paycheck early, giving you the flexibility to handle urgent expenses without the wait.
Current
One such app is Current, a financial technology company redefining banking with its user-friendly mobile platform. With Current, you can get paid up to two days early with direct deposit—no minimum balances, hidden fees, or credit checks required, so your credit score remains unaffected.
A standout feature of Current is Paycheck Advance, which lets you access up to $500 from your next paycheck before it arrives. To qualify, simply receive at least $500 in payroll deposits into a Current account or a linked external account.
What’s even better? This feature has no credit checks, no interest, and no fees, offering you a stress-free and transparent solution. It’s modern banking designed with you in mind.
👉 Sign up for Current now and start banking smarter!
Albert
Another app is Albert, which goes beyond just paycheck advances. Albert is a financial genius in your pocket, helping you manage your money, save automatically, and even access up to $250 from your paycheck before payday—no hidden fees or credit checks. It’s like having a personal finance assistant ready to help at any moment.
With features designed to simplify your finances and ease financial stress, Albert empowers you to take control of your money effortlessly.
👉 Click here to download Albert and start saving smarter today!
Cleo
Another great option is Cleo, the sassy financial assistant that not only helps you budget but also offers a paycheck advance of up to $100 interest-free. Cleo keeps your finances in check with fun, engaging tools while providing quick access to cash when you need it most. It’s like having a financial BFF that’s always there to back you up.
👉 Download Cleo now and let her help you crush your money goals!
System Service Payroll Advance — Is It Difficult?
It's not difficult for either employees or employers.
Companies like Walmart and Comcast recently have begun offering paycheck advances as a benefit to their employees.
Paycheck advances are designed as an affordable alternative to short-term loans, credit card cash advances and bank account overdrafts as we've already discussed.
If you are an employer who is considering implementing this into your payroll system, then it's a wise idea to do so.
Or, you can even make use of an external System Service Payroll Advance third-party solution to handle the entire process for your employee and your business cash flow.
Consider both options and decide what's best for your company and employees.
Best Features of a Payroll Advance
So what exactly are the benefits of a payroll advance? Here is a list of the best features of a payroll advance.
- It isn't a payday loan: Employees do not have to face the hefty interest charges that they incur when they take out a payday loan.
- They are needed: With many Americans living paycheck to paycheck – as much as 78% of U.S. workers, according to a CareerBuilder survey – a benefit like a payroll advance could help cover emergency expenses. Also, according to the Charles Schwab Modern Wealth Survey, only 38% have built up an emergency fund.
What Are The Potential Pitfalls With Payroll Advance?
There have to be some downsides right?
Especially if you have an employee who always wants to get an advance on their paycheck.
While payroll advances can help people who have occasional emergencies, it can also be used chronically like payday loans.
So it's important that the payroll advance system in place is tied to the employer and its payroll system.
The Final Word
To chalk it up, a system service payroll advance is a software or a solution offered by a third party system that helps employers and employees bridge the gap during times of needs where money is needed.
It's similar to a payday loan but does not burden the employee with drastic interest rates and fees and is tied to the employers payroll system.
By having a system payroll advance in place, it can lead to workers with less stress and more motivation at work. It doesn't cost the employer any more money and every employer would benefit from having a payroll advance system in place.
- Borrow between $100 and $15,000 as soon as tomorrow
- No credit check
- Good option if you have bad credit